Block of Flats and Retail for sale in Turffontein

This prime corner stand commercial property is situated in Turffontein. The property is easily accessable from Kliprivier Drive and is surrounded by a large residential node.

Property Specifics:

• Stand size - 1,272sqm
• Zoning - Business 1
• 35 x Single rooms (fully let)
• 2 x retail shops (supermarket/buther; hardware store)

Income:

• 35 x single rooms @ R1,200/month
• Supermarket - R5,000/month
• Gross Monthly income - R47,000

Expenses:

• Electricity - R3,500/month
• Prepaid water meter - R3,000/month
• Rates and taxes - R3,700/month
• Total monthly expenses - R10,200

Total monthly Net income -R36,800

Potential:

The current owner of the property runs the hardware store - once he sells, his retail shop will be available for rent. The hardware store measure over 400sqm and could be rented out for about R50/sqm, brining in an additional R20,000 rental income/month.

The current zoning also allows for an additional 1 storey to be built. A keen investor could add additional rooms to rent out also increasing the rental income of the property.

Another opportunity would be for an investor to convert the whole block to retail - due to the high volume of foot traffic in the area, retailers would be very keen to open up shop on the busy corner stand.